Apple reported fiscal first-quarter revenue of $143.8 billion, a 16 percent year-over-year increase, driven by a 23 percent rise in iPhone net sales. The company exceeded consensus top- and bottom-line estimates thanks to exceptional demand across all major regions, with China iPhone revenue surging 38 percent to $25.5 billion, marking its strongest performance in the market since 2015.

Gross margin expanded to 48.2 percent, up from 45.5 percent in the year-ago period, supported by a higher proportion of premium iPhone models and strategic pricing adjustments. Product gross margin alone jumped to 40.7 percent. Services revenue climbed 14 percent, with a services gross margin of 76.5 percent, underscoring the growing contribution of recurring-revenue streams.

Management issued guidance for the March quarter expecting continued margin strength in the high-40 percent range and stable year-over-year revenue growth. The active installed device base surpassed 2.5 billion units, providing a steadily expanding ecosystem that supports hardware upgrades, digital content purchases and subscription services, positioning the company for sustained momentum through fiscal 2026.